REG - Axis Bank Ltd - Re-appointment of Chairman

Axis BankAnnouncement

25/01/2022 13:25

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RNS Number : 5947Z  Axis Bank Limited  25 January 2022

AXIS/CO/CS/576/2021-22

 

January 25, 2022

Dear Sir(s),

 

SUB:  RE-APPOINTMENT OF RAKESH MAKHIJA AS THE NON EXECUTIVE (PART-TIME)
CHAIRMAN OF AXIS BANK LIMITED ("THE BANK").

 

REF: REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE
REQUIREMENTS) REGULATIONS, 2015 ("SEBI LISTING REGULATIONS").

 

This is to inform you that based on the recommendations made by the Nomination
and Remuneration Committee of Directors, the Board of Directors of the Bank at
its meeting held today i.e. January 25, 2022 approved the re-appointment of
Rakesh Makhija (DIN: 00117692), as the Non-Executive (Part-time) Chairman of
the Bank, including the terms and conditions and his remuneration, with effect
from July 18, 2022 upto October 26, 2023 (both days inclusive),
                                  subject to
the approval of the Reserve Bank of India ("the RBI") and the Members of the
Bank, in terms of the Companies Act, 2013, the Banking Regulation Act, 1949,
and the rules, guidelines and circulars issued by the RBI, from time to time,
and the SEBI Listing Regulations.

 

The brief profile of Rakesh Makhija is attached herewith as Annexure A.

 

Please note that Rakesh Makhija is not related to any other Director or Key
Managerial Personnel of the Bank. He is also not debarred from holding the
office of a Director by virtue of any order passed by SEBI or any other
Regulatory/ Statutory authority.

 

This is for your information and records.

 

Thanking You.

 

Yours Sincerely,

For Axis Bank Limited

 

 

 

Sandeep Poddar

Company Secretary

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Annexure A

 

Rakesh Makhija aged 70 years, is an Independent Director on the Board of Axis
Bank Limited since October 27, 2015.

 

During his career spanning over four decades, Rakesh Makhija has been an
active contributor to the Industrial and Technology sectors, both
internationally and in India. Rakesh Makhija has held a number of top
management positions within the SKF Group. He was the President for the
Industrial Market (Strategic Industries) and a member of the Group Executive
Committee, based in Gothenburg, Sweden. Prior to this, he was President of SKF
Asia with overall responsibility for China and India based in Shanghai. He was
the Managing Director of SKF India from 2002 till 2009. He was recipient of
the prestigious 'CNBC Business Leader Award for Talent Management' in 2007.

 

Prior to joining SKF, Rakesh Makhija was the CEO and Managing Director of Tata
Honeywell Limited. He was subsequently appointed as the Country Manager and
Managing Director of Honeywell International, with responsibilities for
company's business in South Asia. Prior to Honeywell, Rakesh Makhija worked
with Kinetics Technology International BV (now Technip), a process engineering
and contracting company in the Netherlands for over eight years.

 

Rakesh Makhija is a Chemical Engineer from the Indian Institute of Technology,
New Delhi. He also serves on the Board of Castrol India Ltd and A. Treds
Limited.

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